These Taxpayers Better Steel Themselves

A $125 million case study in why states shouldn't try to pick business winners.

By

Carrie Sheffield

May 1, 2013 6:58 p.m. ET

Lawmakers in Arkansas are justifiably anxious to jump-start economic activity in rural areas of the state. Having spent some of my childhood not far away in Missouri, I've seen what life is like in a region where 26% of the population live in poverty and 24% don't graduate from high school. It's stark and disheartening. So it's understandable that Arkansas state legislators want to boost economic activity in a county where unemployment stands at a dismal 9.6%.